Feb 07, 2023 by HM

House prices in Hove (BN3 8)

This article reveals price per square metre data and various charts to help you understand current housing market in Hove (BN3 8).


Price per square metre

Knowing the average house price in Hove is not much use. However, knowing average price per square metre can be quite useful. Price per sqm allows some comparison between properties of different size. We define price per square metre as the sold price divided by the internal area of a property:

£ per sqm = price ÷ internal area
E.g. 14, Farmway Close, Hove, sold for £560,056 on Sep-2023. Given the internal area of 88 square metres, the price per sqm is £6,364.

England & Wales have been officially metric for many decades. However house price per square foot is sometimes prefered by those of sufficiently advanced age. They may want to convert metres on this page to square feet.

The chart below is called a histogram, it helps you see the distribution of this house price per sqm data. To make this chart we put the sales data into a series of £ per sqm 'buckets' (e.g. £6,600-£7,000, £7,000-£7,400, £7,400-£7,800 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 154 sales in Hove (BN3 8) that took place in the last two years.

Distribution of £ per sqm for Hove (BN3 8)
Distribution of £ per sqm house prices in Hove

You can see the spread of prices above. This is because although internal area is a key factor in determining valuation, it is not the only factor. Many factors other than size affect desirability; these factors could be condition, aspect, garden size, negotiating power of the vendor etc.

That said, the spread of prices will give you a feel of the typical range to expect in Hove (BN3 8). Of the 154 transactions, half were sold for between £4,740 and £6,500 per square metre. Notably, only 25% of properties that sold recently were valued at more than £6,500m2. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

For the average, we calculate the 'median' or middle price. The median price per square metre in 'BN3 8' is £5,520. The table below shows how 'BN3 8' compares to neighbouring postcode sectors.

Postcode sector Lower quartile Middle quartile Upper quartile
BN3 5 Hove £5,490m2 £6,130m2 £6,940m2
BN3 2 Hove £5,000m2 £5,680m2 £6,580m2
BN3 7 Hove £4,640m2 £5,490m2 £6,210m2
BN3 8 Hove £4,740m2 £5,520m2 £6,500m2
BN3 6 Hove £5,510m2 £6,070m2 £7,240m2
BN3 3 Hove £4,910m2 £5,610m2 £6,420m2
BN3 4 Hove £4,940m2 £5,710m2 £6,880m2
BN3 1 Hove £4,870m2 £5,630m2 £6,330m2

Will Hove house prices drop in 2024?

I cannot tell the future and don't believe anyone who says they can. I can however plot price trends - I have done this in the scatter plot below for BN3 8 (Hove). From this one could infer a range of reasonable possible future price falls or rises. In the chart below, the red dashed line is the house price trend for BN3 8 and the blue dots are the individual property sales that inform this trend.

Price per square metre in Hove (BN3 8) over time
House price trends for Hove

Hover on any blue dot to see details of specific sales

Disclaimer: The data provided throughout this website about Hove and any other area, is not financial advice. Any information provided does not and cannot ever take in to account the particular financial situation, objectives or property needs of either you or anyone reading this information. Furthermore, I cannot guarantee the accuracy of any data shown. This information is based on sold prices and internal area data provided by Land Registry and other third parties - I do not verify the accuracy of the Hove data or any other data I am given.

Price map for Hove

I've just finished coding the map I link to below. I find it useful and I am sure it will help you in exploring Hove. You can zoom in all the way to individual properties and then all the way back out to see the whole country. The colours show the current estimated property values. I will explain more about the methodology and create a key next week.

Property price heatmap for Hove
House price heatmap for Hove

Street level data

Street Avg size Avg £/m2 Recent sales
Dale View, Hove, BN3 8L 81m2 £6,445 17
Sunninghill Avenue, Hove, BN3 8J 101m2 £4,380 17
Poplar Avenue, Hove, BN3 8P 96m2 £4,866 16
Gleton Avenue, Hove, BN3 8L 82m2 £5,606 14
Sherbourne Road, Hove, BN3 8B 76m2 £4,329 12
Meads Avenue, Hove, BN3 8E 83m2 £6,516 12
West Way, Hove, BN3 8L 98m2 £5,133 12
Applesham Avenue, Hove, BN3 8J 100m2 £4,982 10

Search for your street here.

Raw data

Our analysis of Hove is derived from what is essentially a big table of sold prices from Land Registry with added property size information. Below are three rows from this table to give you an idea.

Address Paid m2 £/m2
14, Farmway Close, Hove £560,056
Sep-2023
88 6,364
41, Gleton Avenue, Hove £550,000
Sep-2023
111 4,954
27, Chichester Close, Hove £388,000
Sep-2023
85 4,564

See the entire list of all sales in Hove (BN3 8) here.

About

HouseMetric is a hobby, created out of a desire to see data and analysis not present on any free to use website. It is still a work in progress and I'll add more stuff in the near future.